Bitcoin Investing Guide 2024

Plus, Reddit’s oversubscribed IPO.

Today is Monday, March 18, 2024.

The Early Bird Index today is 72.24.

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Bitcoin Investing Guide 2024

Bitcoin is up big in 2024 partly due to the rise of spot Bitcoin ETFs (exchange-traded funds) and the upcoming Bitcoin halving in April, says Avid Intent Founder and CEO Chris Reavis in a new episode of the Early Bird podcast.

Prediction: Reavis predicts that Bitcoin could eventually hit over $100,000 in price this year, but also warns that investors should focus more on long-term investing with Bitcoin than short-term investing.

Powering the Story: Why should investors consider Bitcoin? Reavis said that investors can easily get in and out of Bitcoin, it is a scarce asset and even institutional backers are supporting Bitcoin now.

Final Thoughts: How should investors get into Bitcoin this year? What other factors should investors know? Find out by listening to a new episode of the Early Bird podcast.

TheoTrade (FOMO)


Notable Earnings Today: Science Applications (Nasdaq: SAIC), StoneCo (Nasdaq: STNE), dLocal (Nasdaq: DLO), Acurx Pharmaceuticals (Nasdaq: ACXP), Alpine Immune Sciences (Nasdaq: ALPN), BitDigital (Nasdaq: BTBT), Comtech Telecommunications (Nasdaq: CMTL), Embraer SA (NYSE: ERJ), Exagen (Nasdaq: XGN), Eyenovia (Nasdaq: EYEN), FreightCar America (Nasdaq: RAIL), Lantern Pharma (Nasdaq: LTRN), National CineMedia (Nasdaq: NCMI), Niu Technologies (Nasdaq: NIU), OneConnect Financial (NYSE: OCFT), RF Industries (Nasdaq: RFIL).

Notable IPOs Today: GraniteShares 2x Long AMD Daily ETF (Nasdaq: AMDL), GraniteShares 2x Long AMZN Daily ETF (Nasdaq: AMZZ), GraniteShares 2x Long MSFT Daily ETF (Nasdaq: MSFL).

Notable Equity Crowdfunding Campaigns Ending Today: The Coffee Class (StartEngine).

Notable Economic Events Today: N/A.

Reddit’s Oversubscribed IPO

When Reddit (NYSE RDDT) goes public this week, it could easily reach its target price range.

Details: Reuters reported on Sunday that Reddit’s IPO (initial public offering) is between four and five times oversubscribed. That means it will likely attain its target price range of $31 to $34 per share and its target valuation of at least $6.5 billion.

Definition: Oversubscribed means the demand for a stock exceeds the number of available shares.

Zooming Out: Reddit has offered some of its users the ability to buy shares of the stock before the IPO, which explains why it might be oversubscribed.

Background: 2024 has been a mixed bag for social media stocks. Meta Platforms (Nasdaq: META) is up but rivals Snap (NYSE: SNAP) and Pinterest (PINS) are down.

Final Thoughts: Buying an IPO stock is risky. The price is volatile and sometimes the stock tanks after a few weeks.

Shift4 Gets Buyout Offers

Payment processing company Shift4 Payments (NYSE: FOUR) has received “multiple offers” from potential suitors, but the CEO said that the suitors failed to “sufficiently value” the company, according to a report from Bloomberg on Sunday.

Stock Price: Shift4 is up 5% this year, including a 1% increase in the last 30 days.

Final Thoughts: The company reported disappointing financial results in the quarter, and yet the stock is still positive.

The Next AI Battle: In Latest A.I. War Escalation, Elon Musk Releases Chatbot Code (The New York Times)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.